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's turn to the global economy. associated press reporting that china has surpassed the u.s. as the leading trade partner. this comes as china announces the inflation rate rose 2% one month alone. sign of an economy gaining strength. what does it mean? brenda buttner, anchor of "bulls and bears." i was reading this article where shoppers in beijing have seen the prices of vegetables double in one week alone. inflation is a problem over there. what is causing it? >> basically it's not a bad problem, it's growth. china has numbers we can only dream of, growth of about 8%, we're below 2%. their factory output was up 10%. retail sales, 15%. so it is basically growth driven not supply side driven which is the kind of inflation you want to see. it's only 2%, that is well below the target of 4% is. it came down from 6.7%. >> gregg: so it's an issue not really a problem and outweighed by the huge growth. how does the inflation american consumers if at all? >> we buy a lot from china. it may be that some of the input may be more expensive. we may have to pay more, but it's more that china is becomin
for the group. he was promoted second-in-command earlier this year. >>> back to the economy now, china apparently going on an american spending spree. a chinese company agreed to buy a big chunk of insurance giant aig for more than $4 billion after the company got a huge bailout during the u.s. financial crisis. that is not the only bargain that china is picking up from u.s. taxpayers lately. stuart varney on this morning, head of "varney & company" on fox business network. good morning, stuart. good to see you. >> good morning, martha. martha: they're gobbling up our assets in many ways . what do you make of it. >> they are spending the money they have got buying american assets cheap. you mentioned aig. a chinese company is paying $4 billion for aig's plane leasing business. aig remember got $189 billion as a bailout fund that was back in september of 2008. the taxpayers still are the largest shareholder in aig. we sold the plane leasing business to china cheap. second item, a 123 batteries, americans taxpayers gave that company $249 million in grants and another 250 million in tax s
for its missile program in china. we know they buy things for their gas centrifuge program in china. some things are made in germany. probably made in the u.s. china has been a major gap in this whole system. on sanctions and north korea could face tougher action from china might constrict some of its ability to buy things that it absolutely needs for its nuclear programs. jon: you think it is likely american-made technology is helping north korea with its missile program? >> could be. i don't know the missile program nearly as well as the nuclear but what north korea does, it uses china a sense as a transshipment point because many companies, high-tech companies from america, from europe, have subsidiaries in china, selling to chinese industries and trading companies. north korea works that system very well to end up with those kinds of high-tech items from outside china. and so while i can't speak specifically on the missile program i certainly can on the nuclear and yes, indeed, north korea buys european high-tech equipment and likely u.s. equipment. so it's a problem. china has been m
: the latest export from china seems to be college students. more and more chinese scholars are attend iting american institutions these days. supporters say it helps the university pay their bills but critics argue this trend has a downside. this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. shareable data across 10 devices with uimited talk and text. by htc for $49.99. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. >> harris: the hottest new thing in china seems to be the student, and at a time when student loan debt is greater than credit card debt, schools are increasingly looking overseas for a boost. according to a recent report, college kids from china now make up a quarter of all international students in american universities. the schools claim it helps with thei
. >> brian: millions of dollars in a green company only to sell it to china? stewart varney with another waste of your money. he's coming up now. ♪ it's my favorite time of year again and now -- i got a great new way to get deals. it's called bankamerideals, from bank of america. i choose the cash back deals in my mobile or online banking. i just use my bank of america debit or credit card when i pay. and i get as much as 15% cash back -- put into my account. this is cash back on top of other rewards i already get. best of all -- it's free. happy holidays. [ male announcer ] introducing bankamerideals, free for online banking customers. sign in to your online banking to choose your deals today. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? ♪ >> gretchen: if you are just waking up it is 17 minutes past the top of the is it like a fire sale on america interest? china buying up u.s. compani
. >> reporter: the problem is there are very few options in terms of appropriate action. as you know china sits on the u.n. security council and has blocked efforts in the past to sanction the north korean regime. they are its only ally but a very powerful ally. it is not clear at this time whether china is willing to go along with any u.n. security council recommendations for further punishment of north korea. they are in violation of two significant resolutions but it is unclear what real authority the international community has in terms of punishing north korea further. jenna: interesting tie some of our top stories together. china continues to be a problem in syria. that is our top story of the day. jennifer, we'll continue to watch developments there. jon: watching the crisis in syria, a nation that continues to unravel. there are reports that more than a dozen died in a car bombing, many of them women and children. the state news agency say a car packed with explosives blew up near a school in a neighborhood outside the capital of damascus. we're learning forces loyal to president bashar
. ultimately it helped to work. a lot of people supported that. people say, apple, they do business in china. these workers are virtually slaves. i will never own the stock. if that is the case they missed out on an investment unless they bought two weeks ago, an investment of a lifetime. so where do you find the way to draw the line? i've got to tell you something, this thing is urban outfitters is more reflective of society, not a company of really the have garrity in society today amongst young people is at the point where i talk about this all the time. i think pendulum has swung so far it can't get much further. lori: do you the think the stock surge up 34% year-to-date, urban outfitters because of shocking nature of stuff? kids in way to rebel and spicy putting it as nicely as i can? what is going on with the store that is generating interest? >> they are ahead of the curve. real hip store called supreme. they have a location in l.a. and soho. urban bought them. it was a brilliant move. this was underground success. they sell it throughout everywhere. it is a real smart retail play. i
and china the biggest polluters, china is building more coal plants. how do we get them to see this issue the way we do. there is a legitimate point being made by the other side. we don't matter if the chinese continue to spew co2 in the atmosphere. how do you confront that issue. >> as you know, the chinese and other developing countries say hey, you're the rich countries you got rich polluting and you're not even willing to reduce your own emissions. now you want to stop us from doing this, and you won't help us with clean energy technologies. the answer is we need leadership. if the united states could meet its commitment that obama made, then we could go at international negotiations, and develop an agreement. i think the chinese understand that ultimately building all these coal plants is going to hurt them more than us because they've got more people. they've got a lot of people along the coast lines. they have a lot of people living in very dry arid conditions that will just get drier. they have a lot of mouths to feed and they're drawing down their aquifers. i think if the u.s. w
nouri al-maliki said the demonstrations were not acceptable. the government of china imposed tighter controls on internet usage today. now, china's 500 million web users will have to provide their real names when they register for internet service. and providers must delete any web content deemed illegal, and report it to authorities. leading writers and bloggers insisted it's a new way for china's communist leaders to censor their critics. >> ( translated ): since the internet came into china, the chinese government has been repeatedly imposing restrictive measures, such as shielding, blocking and banning. it has even spent billions of dollars to build a firewall against overseas sites. they just don't want to see any freedom of speech which is provided by the constitution because it will hurt their vested interest. >> holman: the new curbs come in the wake of a series of online discussions that have helped expose corruption scandals. russian president vladimir putin signed a bill into law today banning americans from adopting russian children. the move terminated more than 50 ado
samsung, to the amount of business they do in china, and why can't those jobs be here. why can't you be a made in america company? >> you know, this iphone, as a matter of fact, the engine in here is made in america. and not only are the engines made in america, but engines are made in america that are exported. the glass on this phone is made in kentucky. so we have been working for years on doing more and more in the united states. next year, we will do one of our existing mac lines in the united states. >> let's say our constitution was a little different and barack obama called you in tomorrow and said get everybody out of china, and do whatever you have to do. make these, make everything you make in the united states, what would that do to the price of this device? >> honestly, it is not so much about price, it is about the skills, et cetera. over time, there are skills that are associated with manufacturing that have left the u.s. not necessarily people, but the education, the ability to produce them. >> that is sad, how do we get it back? >> well, it is a concerted effort to g
.n. security council. it's likely china will try to water down those provisions but it's also certain that the provisions will pass. >> you don't think china will try to veto it? >> i don't think they will veto it. they don't want north korea doing this. >> china is the only ally that they really have. i wonder, do you think it's possible they didn't inform china in advance of the timing of this launch? >> it's possible they did not. people now suspect that the information that we had that north korea was moving its rocket, something was wrong with it, was it an intentional deceptive move? they thought there would be attempts to shoot it down. they wanted to fool japan. they succeeded. >> and it certainly does strengthen the new young leader kim jong-un domestically. >> absolutely. they have been trying since 1998 to launch a long-range missile and they failed in the previous four attempts. they succeeded in this. it's not a rocket that can deliver a major warhead. there are marriajor hurdles to >> they have done in north korea where a lot of people are starving what south korea has b
a satellite into orbit. its neighbors are unnerved. even china expressed regret at the move. the obama administration condemned it as a provocative act and will likely ask the u.n. security council to impose crippling sanctions. the pentagon following developments this morning. chris lawrence there. what do you know, chris? >> right now, officials say that object that north korea put into orbit, monitoring it, analyzing it, but they confirm it is in orbit. why is that important? the same technology you would use to put into orbit is the same technology you use to develop long-range ballistic missiles, the u.s. condemned this act. they are worried about the marriage of north korea's nuclear weapons with this long-range missile technology. this is the type of missile that if it was successful, as it appears to be, could reach parts of the united states, alaska, u.s. military bases in hawaii. but a u.s. efficiently i spoke with who used to work on north north korea for the defense department told me, there are still areas in which north korea has not made it as far as they would need to i
constitution and the history of the rule of law. this interview was part of a discussion on china opposed the legal system hosted by the brookings institution. china's >> ok. concepts. for 20 years i have been advising -- roughly half of that on financial economic matters. the other half a variety of topics. about 10 years ago, we started talking about role of law. i said to him at the time, what strikes me about this topic was that other than the occasion i can think of, other than when paul worked at the state department and bill clinton was president, this topic in my view has never gotten the attention it deserves. it has been treated too much as a technical topic. not as a fundamental topic about the relations of the states. in my experience, i always say the chinese leadership, the most distinctive characteristic is they are systematically opened. that is to say the modus operandi is on a particular topic, let's look for the best ideas throughout the world, bring them back, study them, and then customize them as appropriate for our own system. and yet in this one respect, they have
deficit to china being $29.8 billion per month. that is just one country. you start to add up all the trade deficit that we have with all of these different trading partners over the years, i am sure that it is close to about $1 trillion per year. >> thank you for the comments. let's go to sarasota next. caller: good afternoon. the way that i look at it, as a 74-year-old professional pharmacist with a minor in economics, the reason i am independent is because republicans and democrats cannot seem to get it together. the biggest problem that we have now is the reason why we cannot do what we are supposed to do for the entire country. one middleman adnan grover norquist. someone who was never even elected. here is a man that has caused all the problems. all of the republicans have signed this pledge, which to me is unconstitutional. without him, we would not be talking today. >> salem, oregon, republican line. you are on the air. caller: good morning. as a college student, and i have listened to every single caller, this is an embarrassing day for our country. i am a first-time job
. the next five years will be telling for the ruling party. >> more than 1000 people in china have signed a business -- a petition where people -- it is part of an effort to tackle corruption in the government. while less as if elected -- there is a growing debate in israel over the use of pesticides in some of the country's favorite foods. a survey has found high levels of residue in more than 100 types of produce. james ferguson has the story from jerusalem. >> -- james ferguson has the story from jerusalem. >> israelis in fresh and local but how healthy are these foods? in recent government study has called hadi has caused some alarm. >> there are people that tackle these issues seriously and start to grow something which -- it should hand -- it should not happen to a thing like this. >> the study of pesticide residues in 56 of -- 56 percent of the foods, there are higher levels than permitted. there is possible exposure to pesticide use in farmington abutting quantities within the range of risk. others say the longer-term effects are potentially harmful. >> there have been studies in
it. >> but, remember china is north korea's greatest ally and supporter. so, china does see him as sexy. >> why the fascination with him? >> again, the third in the kim dynasty. his grandfather was the founder of north korea. we never saw a photograph of kim jong-un until recently when his father named him as a successor. he went to switzerland. he went to the school where nobody ever knew exactly who he was and believe it or not he is an nba and nike fan and i find it quite fascinating, he does his own buzz cuts, which have become very popular in north korea. >> yeah, okay, that's good to know. listen, we know he had big shoes to fill taking over for his father. the thousands of north koreans lining the streets of pyonyang at the funeral. but now he had this rocket launch. i mean, that was a success. does that change things for him? how is he viewed? >> certainly internal and it does. in april there was a failed launch. so the fact that this one was a success, is terribly important internally. in terms of north korea it's seen as a great win for him. the world has condemned it
to year. it is hard to estimate countries like china because they are now pricing things the same way. they have large land forces and they are not deployed across the world. submarines and missiles. china is probably number one on the list. host: this from twitter. guest: that refers to overseas contingency operations. this is a fund that paid for the wars in iraq. it is about $88 billion in that account. there is a pentagon and washington funny math. some people say if the project out, we will save all this money. i wrote a report about saving $1 trillion. most of our troops will be out of afghanistan by 2014. nobody expects it will spend this level of money going out the long term in the future. so the $1 trillion in savings is money we would not have spent anyway. there are some built-in drawdowns in the defense department. in.se were built an about $487 billion over 10 years. they are coming back down. about 100,000 or so and they are built into the system. the pentagon is looking at things that way. host: roger in texas, republican caller. go ahead. caller: i am amazed i got thr
it anymore. he wasn't satisfied with outsourcing thousands of jobs to low wage china when he was on the board of gateway computer. he wants to turn michigan into the same low-wage environment we see in china. >> reporter: as you look at state troopers out here right now, some are equipped with batons. look at their hips. what they have on their hips there are gas masks. you can see some weapons they're carrying. nonlethal weapons that would be used to dispurse the tear gas if it was needed to. as we bring up we heard someone shouting in the background it has been a peaceful demonstration. it has. there was trouble on the first day. eight people were arrested. a little bit of tear gas went out. here in this demonstration, things have been peaceful. nothing more than a lot of people showing up in numbers expressing discontent with the legislature and the speed with this legislation and speed which it moved through the legislature, jenna, mike, we saw a sign behind you. it said there is war on workers in the state of michigan. what is the primary gripe of unions and their members? >> reporter: w
. if you look at the facts, 32% of our manufacturing base has been gutted and sold to china, india, any foreign country that has cheap labor. the top patriotic american companies are parking their profits and offshore accounts so they do not have to pay a fair share of their taxes. the bottom line is since the late '70s, the wealthiest 2% in this country are making 25 times their wealth that they made a black -- back then. there are only paying 40% more in taxes. this country is doomed if we do not start putting terrace of the imports coming into this country. the republican party is selling you an outright lie. thank you. host: let's show you a facebook posting. the economist and professor at the university of maryland will be with us and about 25 minutes or so. he will take your calls and give you his economic outlook for 2013. he has written a lot on the matter. from west virginia, independent. caller: is, sir. i would just like to say that i am not very optimistic above the future of the united states right now. we are in so much that it is pathetic. our budget is way over. this pre
with this, the british, the french, the germans, russia, china, they all tend to view this as a proliferation problem. the conversation between iran and the other side tends to be about that issue, very narrowly focused. to kind of move that conversation, you have to figure out a different kind of architecture. the five plus one process, as such, is designed to deal with the corporation issue and the composition is that has to do with the iranian violation of the mpt and there have been 62 -- six security council resolutions that suggests sanctions. there are two countries who suggest that the issue between -- that this is not a proliferation issue but has to do with the character of the regime and one of them is israel who does not view this as strictly an arms dispute and the second one is iran who similarly suggests that although it is an arms control issue, they are really using arms control as a way to undermine the regime. there are two actors in this particular conflagration who are not accepting the argument being that this is about nuclear infractions as oppo
. as far as china is concerned, we don't tariff, we don't put that high of a tariff on their imports but yet i don't know the exact numbers but i believe it's a lot higher that they tax our imports in their country. and the whole thing with jobs. he created the apple scommuret in california in his garage but yet when he got successful he moves all his company over to china, giving chinese people jobs. if steve jobs was born in china he wouldn't even have a garage therefore he wouldn't be able to create the apple computer. so i just think we just don't do enough for the people of this country. and the people who are in position to create jobs and do this do not reinvest in the country. therefore i don't think they should get tax breaks. if you want to give these corporate giants tax breaks then give it to those who want to invest in the country, who want to create jobs here, not overcease, and they think try to think of ways to get their money over there into here lower than say the american businessman paying 35%. guest: i mean, i understand your frustration. i think part of it is th
not create any jobs. as far as china is concerned we do not hit that high of a tariff on their imports. i believe it is a lot higher. the whole thing was steve jobs. he treated the apple computer in his garage. when he got successful theme of his company over to china giving chinese people jobs. if steve jobs was born in china he would not even be able to create the apple computer. we just do not do enough for the people of this country. the people who are position to create jobs do not reinvest in the country. i do not think they should get tax breaks. if you want to give these corporate giant tax breaks given to those who want to invest in the country and create jobs. for a lower than the american businessmen. guest: i understand your frustration. part of it is the corporate tax .ode clearly needs to fix it a lot talk about fixing a and a revenue neutral way. it does not help lowering future deficits any easier. there are some things need to change. in general we need to realize that if we set our country on the bike path making the right investments in -- the right path making investme
it is with cheap natural gas. natural gas is $60 in japan. fourteen dollars in china. it has been an economic miracle. if they want to cut, perhaps, millions of jobs and kill any sort of a manufacturing renaissance, go for. i think they will get their money from them. i think they will hijack the industry in respect to that. natural gas has been great for this country. this particular stock, speaking of earth, i would say $42.90 would be a good number for them. lori: the manager is at the center of what the feds are calling the largest ever insider-trading case. charlie gasparino joined us in the case against matthew martoma adam: war spending and buying from the federal reserve. ♪ >> 21 minutes past the hour. this is your fox news minute. and american soldier has been attacked in afghanistan. that is all coming just hours after leon panetta left the area. the pentagon confirming a new goal board explosive device. a north korean satellite reportedly tumbling out of control and space at this hour following a rocket launch last week that sent it into orbit. the fence secretary saying the laun
an originator of new kinds of policies. if you take, for example, china policy i think that he may be reluctant to react to a china which is very different from the way it was in the past. >> brown: let me bring david ignatius back. i guess it depends on what you think is needed right now, right? >> i think the world's a mess as kerry believes. he's right. and needs a strong american voice. needs the sort of steady hand that some of these experiences can bring. i point i would make about kerry is that although he often comes across as a stiff, as an establishment figure very form layic, in terms of shall ideas an willness-- willingness to engage adversaries, reach out and try to find a channel to iran, for example, reach out to the palestinians, try to think of new ways to deal with the arab world, kerry is on the more innovative side. so i think he is not going to be a wild radical-- the country will miss having someone like susan rice who is a younger, different voice. but i think that kerry-- it's wrong to think of kerry of just being a throwback to 30 years ago. >> brown: is it clear still
think broadly of markets like china and brazil. these are markets that started to increase monetary easing. that have started to restructure their economies and certainly we think china has avoided very nicely a hard landing and will be back for growth track next year. >> talk to me about getting yield. that what everybody want right now. how are you doing it? high yield or investment grade securities or where? >> we are underweighted and they don't provide much of a yield these days. they are on high yield and we've had a barn burner of the year with high yield. we still think you can get high digit returns in 2013. and we are looking at global infrastructure in real estate as providing a nice sustainable yield for investors. >> the big debate down here for the past couple of days after the fed made its announcement is whether or not that will prick the bond bubble. where whether we are in a bond bubble or whether there was a bond bubble. where do you stand on that? >> it's interesting. when i think after bubble, i think of something that can burst and drag values down to zero. one
, tea and juice. and in china and the asia pacific region, there's plenty of room to grow. starbucks expects china will overtake canada as its second largest market in 2014. >> great to have you. thank you. and forbes is out with a list of the world's most powerful people. number five, pope benedict xvi. bill gates is number four. of course the microsoft found are and philanthropist. number three, russian president vladimir putin. number two is almost the most powerful woman, angela merkel and number one was unanimous, president barack obama. ♪ everybody wants to rule the world ♪ cer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! [ male announcer ] are you on medicare? do you have the coverage you need? open enrollment ends friday, december 7th. so don't wait. now's the time to get on a path that could be right for you... with unitedhealthcare medicare solutions. call tod
or the executive branch can nullify a statute passed by congress. >>> no secret china is coming on strong as a global power. but a new u.s. intelligence report predicts how far and fast china will move. >> the national intelligence council says by 2030, just 17 years from now, china will likely have passed the u.s. to become the world's largest economy. the report says that overall, asia will top north america and europe with population, military spending and investing in technology. >> and one of the bright spots for the u.s., we are expected to become energy independent and the world's largest exporter by the year 2030. people talk about china and their booming economy over there, and this quantifies just how fast they are coming on. pretty amazing. >> the world's population is projected to rise to 8.3 billion from 7.1 billion. and demand for food will go up 35%, and demand for water, 40% more than current water supplies, making water a likely cause of regional conflict, particularly in south asia and the middle east. water and food. there's not going to be enough for us. >> what a brig
in germany or alabama. want them in lexington, kentucky or china? >> you mentioned germany. volkswagen opened a plant in chattanooga a few months ago, 2,000 new jobs. bob corcoran was down there. 2,000 jobs, every one of which started at $14.50 an hour. >> right. they're not all going to be at -- >> so volkswagen was moving these jobs here because we're the low wage country compared to germany. >> dude, are you suggesting we push these jobs away? >> i'm not. >> i would rather americans have a shot at a $17 an hour job than having it in china. >> i agree. >> find a way to do better. i actually agree with you. but you have to understand the consequences are pretty severe for american lifestyles. >> again, though, i'm sorry, mike, but the consequences are, we have two choices, we can't get 1965 wages, we either have these jobs in china or lexington, either have them in alabama or germany and this is at least for some of -- a chance for younger americans to get some good jobs. >> joe, if you're taking a job that pays $14.50 an hour. it means one of two things, a, you don't have a job so you're ge
your report opens up. a tragic tale of a legal immigrant to this country from china, she was brutally attacked by an illegal immigrant from china, and after chen served his prison term, china refused to take him back. what happened? >> immigration officials in texas let him out more than once, and no point did they ever warn ms. wu this is a wider issue in the immigrant question. that's secrecy. they don't tell the public very much unlike the criminal system who they arrest, who they detain, and what happens to them in the case of ms. wu, she thought the man who brutally attacked her was in china and one day, three years later, he walks through her door and shortly after that kills her. >> why is this happening? why do we have no dodknowledge it? >> the immigration system says they are a civil immigration agency, they detain people they treat like criminals whether they have a record or not and they said that they believe that this is a private matter, that they need to protect the immigrants's privacy. so when we request the name of criminals, they said that the public interest in th
would be short yen and long japanese stocks. >> people watching not just january but china. ir ir ir iron oar a lot. >> let's get more insight from steve from web bush securities. how much of a nail biter is this for you in terms of fiscal cliff and the markets? >> i think pretty clear at this point that if there's a deal coming, it's gonna be coming very, very soon. i think the markets discounted the fact we are going to get some sort of deal t has held up fairly well here and i think if we don't get a deal, we will see a selloff. i don't know how considerable, but certainly see the 2, 3% decline in the market. >> does it amaze you, steve, that the markets, in your view, still consider a given that we are going to reach a deal? here we are thursday, december 27th. they still haven't issued a 48-hur notice for congress to return to capitol hill and yet you're saying the markets have baked in some sort of deal? >> yeah, i think so. i don't in he isly think the deal happened december 31st. if we pass waite without a deal earthquake the market will think something is going to happen in
deal, it will be one of the largest ever by chinese investors. china's state owned oil giant c-nook swooped in to acquire nexen for a cool $15 billion. note to the obama administration, it is not happening in a bubble. last year you'll recall the obama administration put off a decision on the excel pipeline, an extension of a pipeline that would connect the oil in alberta to the gulf of mexico and international markets. the democrats killed it because of concerns from environmentalists. the proposed route crossed the aquifer in nebraska and white house and state department officials could have just insisted on rerouting the pipe, but they didn't. a bad move, one that was highly thought to play to the president's base. now that the elections are over, a review of a new route will begin sometime next year. the leakages of that pipe were a minor concern, though it got all the headlines. a more legitimate environmental concern is carbon emissions. processing crude that is mined from the oil sands emits double the emissions of regular drilled oil. but oil sands still -- that still s
. >> obama took gm and chrysler into bankruptcy and told them in china. >> the ad was referring to the auto bailout that lent a line to chrysler and gm and saved america's car industry from imminent collapse. i was in ohio when the ad came out, riding the cnn election express. ohio was crucial to romney and he had to take the state if he wanted to win, but ohio is auto country. i met voters in columbus who were outraged because it was a bold-faced lie. all chrysler said is it may make extra jeeps in china. here's what i said about romney's surprising misunderstanding of the auto industry back then. >> for decades and decades and decades, american auto companies have made cars in the countries or the regions in which they sell them. i want to remind americans when they buy toyotas and hondas and hyundais and nissans in america that are assembled here, back home somebody said why are you shipping our jobs to america? it shows a misunderstanding by the romney camp to try and get under people's nails about jobs and cars being made elsewhere. >> christine didn't see that coming and got stuck lis
more cooperatively to counter china. so certainly senator kerry, if he becomes the next secretary of state have a full plate. >> what was he like in terms of his personality? i covered him in 2004 when he was running for president in george w. bush and he was not really able to relate or identify to everyday folks, but he has quite a reputation overseas and abroad. overseas and abroad he has a reputation for knowing issue and he has relationships with a lot of world leaders and it was senator john kerry who convinced afghan president hamid karzai to go for a runoff election when the presidential elections were in question and i think he's going to be able to relate to leaders suft as secretary clinton did as a politician when these leaders are having problems compromising to say, listen, i'm in your seat. i know where you've been and run for office before and i think that will serve him well. here in washington, he is seen as someone who is very confident and on top of his brief and also someone who likes to control issues, and such as the middle east. he's someone who drills down
military in china. this was signed off on by the defense secretary, leon panetta who used to be a cia chief and by general david petraeus who stepped down as cia chief after an extramarital affair was exposed last month, as for funding, the pentagon gave the dcs about 100 million dollars just to get the program started, but their overall budget is not expected to grow. in fact, the overall budget, the dia overall budget might decrease since just about every part of the government is looking to cut back right now and the money from the dcs and the personnel are just essentially going to be converted from the existing defense intelligence agency over to the defense clandestine service. >> that's what we need. an expansion of the government. >> thank you so much, peter. >> thanks, peter. >> all right, let's get your headlines now, and show you what's happening around the world. thousands of egyptians took to the streets, showing support for their president. all right, this is the scene in cairo as egyptians rally behind president morsi. on december 15th there will be a vote on a new constituti
deliveries. it is nice to see that they're doing good. >> let's talk about china. they passed a japan and we have a prediction--2030 is a new year that is out by independent study. they are continuing to grow and this research stated that russia will probably weigh but china will grow. they stated that american will remain the worldwide leader because we found ways to get oil. some of your money has to go to the international market. i like china as a long-term player. >> $50 million for a pepsi commercial. this is a smart mold for her.move for her. beys a big deal with them. they're all advertising rebel, a toyota and their advertising by using musicians. they are supporting the artist. >> the company that sells soda support-- >> on to bay area traffic. >> we start with a live look in the city on our roof top camera. this is on van ness ave. this is beautiful blue skies and there's no clouds in the sky. we will see a another day of gorgeous weather with a loss of sunshine and it will be a chilly start for us. by this afternoon it will be mild. some places may get close to 70 degrees. today
higher, a news of rising factory out growth in china. on wall street, stocks ended mixed following news the economy added more jobs than predicted. the unemployment rate fell to a four year low of 7.7%. the dough closed up 81 points on friday while the nasdaq dropped 11 point. president obama and house speaker john boehner met to try to prevent the impending fiscal cliff. the tax hikes and spending cuts due to kick in on january 1st. the main sticking points remain, and cuts to entitlement programs medicare. the president has asked congress to work through the holiday break if no deal is reached before then: the federal reserve is expected to announce an expansion o of their program. they will extend the program of buying $85 billion of securities each month into the the new year. announcement is expected when the bankers meet tomorrow and wednesday. a new survey shows pay for private college presidents continues the upward climb. they studied data from 2010 and median compensation rose to $400,000. that is up nearly 3 personality. that's a -- percent. that's a pretty good paying job th
get a share of the proceeds. the company from china disagrees. decision could be months away. finally, it's like the seven-second delay on steroids. the state department is reportedly considering drastically rewriting its rules on social media novembering geinvolving two daye a tweet. "washington post" says the move may be in the wake of a scandal involving around a tell-all book but it's worth noting that the u.s. embassy in cairo egypt ran in trouble over tweeted apology over the anti-islam film that surfaced before the terror attack in benghazi, libya. there is a renewed battle going on tonight in california about renewable energy. specifically, solar power. it's about profit versus loss. tax collectors versus the taxpayers. correspondent william la jeunesse lays it all out for us. >> there will be screwups and bankruptcies. indictments and deaths. but we are going to keep going. >> critics be damned says governor jerry brown who backed solar energy regardless of cost or consequence. >> we're opposed to that obviously because we will be the ones to live with it forever. >> riversid
then? >> what are you going to do? you need another source of income. >> steve: call china! >> can we borrow more? you're already going to raise the medicare tax to help pay for obamacare. you're already raising the tax on some drugs to pay for it. what are you going to do now? if you don't get the medical device tax through, and you don't get the $29 billion, what are you going to do? you're right, steve. call china, let's borrow more. >> steve: so many people are fixated on the fiscal cliff and the president wants to jack up taxes on people who are successful. up to maybe about 40%. that's one of the theories out there. he'd love 40%. but a lot of people forget about the medical device tax, plus all the obamacare taxes already baked into the equation. >> it's a tax here, a tax there, a fee there, a fee here, everything goes up. medical care gets more expensive. not less expensive. >> steve: he talks about money. he talks about politics. he talks about all sorts of stuff on fox business, 9:20 eastern time. the great stuart varney, thanks for dropping by. >> thank you. >> steve: all r
of uninhabited lands between japan and china. japan sent eight fighter jets after a chinese plane was seen near the islands. it was gone by the time they got there. china continues to claim the islands. the islands have been in japanese control for years. japan bought the privately owned islands in september. >>> some are calling it a break-through, north korea making its first successful long range rocket launch but less than 24 hours after liftoff a u.s. official tells cnn the country may not be in full control of the satellite. joining me is cnn contributor and retired u.s. army general spider marks. good morning. >> good morning. >> what does this mean? is this a setback for north korea? >> it's not a setback at all for north korea. north korea successfully launched something into an extra atmospheric orbit, albeit it's not control. they were able to build a three-stage missile and get an object into space. >> here is how leon pa net ta spoke about it. he spoke to erin burnett in afghanistan. >> this is a clear provocation. we've warned them not to do it. we've been very concerned about the
, serbia, turkey, china and elsewhere. now the big question, since we're still here, what to to do about dinner? it could be end of traumatic stay in mexican jail for former u.s. marine arrested on vacation. correspondent steve harrigan has the story of an effort to get their son home for the holidays. >> john hammer's family goal was to get him home by christmas now. his parents, lawyer and congresswoman all say they expect his release today. >> amen, hallelujah, wonderful early christmas president for the family. the community rallied for john's liberty. >> the 27-year-old former marine is a combat veteran who served in iraq and afghanistan. after treatment for post traumatic stress disorder he and another former marine bought a used winnebago and planned surfing trip through mexico and costa rica. hammer's family maintains he declared the antique rifle he planned to use the hunt birds to custom agents on both sides of the border. he was arrested after entering mexico a taken to the notorious prison filled with drug cartel where for a time he was chained to a bed. his parents began to
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